Fall 2016
April/May 2016
 To be considered for federal student aid, you must apply for a U.S. Department of Education FSA ID, which is a username and password. The FSA ID has replaced the
PIN since May 2015.
 File the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov
anytime on or after January 1, 2016.
April 15 is Marshall University’s preferred FAFSA filing deadline.
 If you haven’t filed taxes, you can estimate your 2015 income information. You will be able to update your income information by using the IRS Data Retrieval Tool in
FAFSA on the Web after you have filed your Federal tax return. This is highly recommended and could save time if you are required to submit documentation.
 Parent information is not required on your form.
 Be sure you list Marshall University’s code (003815) on your FAFSA as a college choice.
 Once you are accepted into MUSOM, keep an eye out for your Marshall University Financial Aid Award Notice (you will be able to view and accept your awards by logging into your myMU account). New students will receive an award notice via US mail with instructions about how to log on your myMU account. If you are/were a past Marshall student, you will receive an email notice via your Marshall email.
 Please allow at least three weeks for notification after submitting your FAFSA.
 Submit any requested information or documents from the
Office of Student Financial Assistance as soon as possible to that office but no later than June 1 to ensure aid is finalized by the billing due date . View any outstanding financial aid requirements by logging into your myMU account (see page 2 of this newsletter).
 You must accept or decline your financial aid offer online via myMU. Only accept the amount of loan you feel you will need. This step is important to assure payment of tuition and timely disbursement of your refund. Your refund is any additional financial aid accepted after tuition is paid.
If you decline or if you only accept a partial award, any remaining eligibility will be available throughout the year.
June/July/August 2016
 Federal Direct Loan (FDL) first time borrowers must complete the online Entrance Loan Counseling and sign an electronic Master Promissory Note (MPN) at www.studentloans.gov by July 1.
 Bills for tuition and fees are sent by Marshall University’s
Bursar’s Office in July with tuition due in August.
 To prevent a delay of refund in August, all first time
Marshall students must have an MUID (Marshall University
Identification) picture taken by July 1.
 Financial aid refunds will be disbursed during the first week of classes provided students have completed all necessary requirements.
MUJCESOM Edition
Congratulations on your plans to enroll as a Marshall
University Joan C. Edwards School of Medicine student. The
Office of Student Financial Assistance (OSFA) has prepared this
Financial Aid Newsletter to assist you with some of the information you must manage in preparation for medical school financing. In the newsletter, you will find useful information about the Federal Student Aid application process along with important deadlines. Meeting deadlines is one of the most important steps in receiving funds. Being well informed and planning early is key to getting the utmost benefit from every possible financial aid program available to you as a medical student.
We know you are excited to begin your medical education as we are in assisting you on identifying financial aid resources available to help you meet your needs. Approximately 90 percent of our medical students receive financial aid in the form of scholarships and/or loans. Since scholarship funds are limited, approximately 90 percent of our medical students rely on federal student loans to supplement their finances.
Our primary objective is to assist you in planning for and meeting your expenses. Our office strives to meet your financial needs by not only providing dollar support but through assistance in financial counseling and debt management .
We recommend you keep this newsletter in a file for future reference and, when you receive additional information about financial aid, you can maintain those records in your file.
I am the primary contact for our medical students and I am committed to providing quality service. Whenever you have a question regarding personal financial matters or our financial aid process, please feel free to contact me. Please e-mail me at madden2 @ marshall.edu or call me at 304-691-8739 . I’m looking forward to working with you now as well as in the upcoming years.
Sincerely,
Cindy Canterberry
Assistant Director of Student Financial Assistance
Marshall University Joan C. Edwards School of Medicine

MUJCESOM Student Financial Assistance Newsletter– Fall 2016
To apply for federal, state, and institutional funds, you must file a Free Application for Federal Student Aid (FAFSA).
You may file the 2016-2017 FAFSA at www.fafsa.ed.gov as early as Jan. 1, 2016. Be sure to include Marshall University’s
institutional code
( 003815) . Three days after you file the
IRS Data Retrieval
The Office of SFA endorses the use of IRS Data Retrieval when completing the FAFSA. This allows tax information to be pulled directly from the IRS. It could also reduce the amount of documents you are required to submit to this office. You can complete the FAFSA as early as
January 1, and recommended you complete it no later than April
15. If you have not completed your tax return, you can estimate your income and still use the IRS
Data Retrieval Tool when you update FAFSA after your 2015 taxes have been filed.
FAFSA, you can check the status of your application online or by calling 1-800-433-
3243.
If you file your federal tax return electronically, you should have the ability a few weeks after your file taxes to use the IRS
Data Retrieval Tool to automatically have your tax figures populate in certain field on your FAFSA. You should be able to use the tool if you file with paper, but not as quickly. If you use this tool, the Office of
Student Financial
Assistance should not need to collect your
Federal Tax Transcript, if you should be selected for the Federal
Verification process.
To complete and sign the FAFSA electronically, you will be required to use the U.S. Department of Education FSA ID username and password. You can create an FSA ID when logging in to the following sites: www.fafsa.gov
, www.nslds.ed.gov
, www.StudentLoans.gov
, and www.StudentAid.gov
.You only need to create an FSA ID username and password once. Your FSA ID username will be used for the duration of medical school and beyond. You will also need your FSA ID to complete Federal Direct Loan
Entrance Loan Counseling and to electronically sign a Federal
Direct Loan Master Promissory Note. Your FSA ID also allows you to have access to your historical Federal financial aid grant and loan records through the National Student Loan
Data System at www.nslds.ed.gov
.
-
-
-
-
www.fafsa.ed.gov/complete011.htm
You will be able to access the Marshall University student self service portal, myMU, for access to your financial aid status once
Marshall receives your 2016 17 FAFSA information. If you have attended Marshall University in the past or currently, you should already have been assigned a Marshall University Identification Number (MUID) and username. If you are a new student for 2016 -
17, after Marshall receives your 2016 17 FAFSA, you will receive a letter with instructions about accessing your information via myMU. Do not wait until the last minute to complete required documents. By using your myMU account, you can view your outstanding financial aid requirements or awards online at any time. To view your financial aid records, follow these steps:

Go to www.mymu.marshall.edu and click on link to the new myMU Portal

If a first-time user , click on First Time Users beneather the Login Button for username and password

Enter your Username and Password
 Click the Financial Aid Tab

Click Award link for awards or Eligibility for outstanding documents under the Financial Aid Main Menu

Select Award by Aid Year July 1, 2016 to June 30, 2017 and click submit
 Read the Terms and Conditions. You will find your award listed below Terms and Conditions.
 It is very important to accept your awards to begin the processing of your aid or decline your award, if applicable.
 Please check here often while your aid is being finalized.
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MUJCESOM Student Financial Assistance Newsletter– Fall 2016
The information students report on the FAFSA is used in a formula established by Congress to determine the Expected Family Contribution
(EFC). This is the first component of determining financial aid eligibility for need-based aid. Although there are very few need-based programs available for medical students, this calculation is performed for all applicants.
Cost of Attendance (COA) or financial aid budget is the second component. To determine eligibility for need-based financial aid programs, the EFC is subtracted from the COA.
The COA reflects average educational costs. Tuition & Fees are fixed costs for any given academic year. The chart below provides estimated tuition and fee costs for medical students for the 2016-17 academic year. For more detailed information about tuition and fees, visit www.marshall.edu/bursar .
Books & Supplies ar e variable costs and depend upon course requirements. Living expenses are also variable. Transportation and
Miscellaneous expenses ar e variable costs that can consume a large part of the educational costs if not budgeted carefully.
The COA table below is provided for planning purposes. Although our tuition and fees are not expected to increase, this is an estimated budget for 2016-17. Tuition & Fees and health insurance to be announced in May 2016. Final budgets will be confirmed in May 2016.
-
-
Resident Tuition & Fees
Non Resident Tuition & Fees
MS 1
10 month*
$20,086
$47,676
MS 2
10 month*
$20,086
$47,676
MS 3
12 month*
$20,086
$47,676
MS 4
10 month*
$20,086
$47,676
Books & Supplies $750 $750 $750 $750
Computer & IT
USMLE (Registration, Materials, Travel)
$2,000
-
$500
$1,080
$500
$2,310
$500
$1,000
Clinical Travel
Living Expenses **
(Rent, Utilities, Phone, Food)
Health Insurance
Transportation**
Personal & Miscellaneous**
-
$14,560
$2,100
$2,500
$2,295
-
$14,560
$2,100
$2,500
$2,050
$1,000
$17,472
$2,100
$3,000
$3,650
$2,000
$14,560
$2,100
$2,500
$3,150
Loan Fees $999 $999 $999 $999
Resident Total* $45,290 $44,625 $51,867 $47,645
Non– Resident Total* $72,880 $72,215 $79,457 $75,235
**Average Monthly Living 12 months $1,613 $1,592 $2,010 $1,684
* Displays estimated costs and are subject to change. Tuition/fees and health insurance costs to be announced in May 2015.
Your financial aid award notice will reflect any changes to the budget.
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MUJCESOM Student Financial Assistance Newsletter– Fall 2016
Medical Student Primary Contact :
Cindy Canterberry
Assistant Director of Student Financial Assistance
Marshall University
Joan C. Edwards School of Medicine
Office of Student Affairs
Byrd Clinical Center
1249 15th Street Suite 1015
Huntington, WV 25701
Phone : 1(304) 691-8739
Fax : 1(304) 691-8740
Email: madden2@marshall.edu
Main campus office: 1 (304) 696-3162
There are two major types of aid.
Scholarship/grants do not have to be repaid and loans are borrowed money and must be repaid, typically with interest. Medical students are eligible to receive assistance up to the total cost of education provided the student meets requirements.
FEDERAL LOANS
The William D. Ford Federal Direct
Loan (FDL) program lets you borrow from the U.S. Department of Education instead of a bank or other lending institution. This allows borrowers to work with a single entity through an assigned loan servicer when repaying loans or dealing with loan-related issues. There are two types of Federal Direct Loans for medical students: Federal Direct
Stafford Loan (unsubsidized) and
Federal Direct Graduate PLUS Loan.
As of July 1, 2012, the Federal loan programs no longer subsidize professional student loans.
By completing the FAFSA, you are automatically considered for these loans.
You will be offered an FDL based on your Cost of Attendance (COA, see
Budget on page 3). There are annual and aggregate limits for the FDL program.
However, there are no aggregate limits for the Graduate PLUS loan. If applying for the Graduate PLUS load, a credit check is required. Should you have a negative credit history, it is possible to be denied this particular loan. To check your credit history and obtain a free credit report go to: www.annualcreditreport.com.
LOAN ENTRANCE COUNSELING
AND PROMISSORY NOTE
If you are a first-time borrower for either the Federal Direct unsubsidized or
Graduate PLUS Loan, you must complete Entrance Loan Counseling and sign a Federal Direct Loan Master Promissory Note.
Once you receive notification from our office directing you to myMU to view your financial aid award (see page
2), you will need to accept or decline the offered loan amount. If you “accept” any amount of loan, you will be provided instructions to complete your requirements. Additionally , loan processing fees are deducted from your total amount borrowed.
Example: Financial Aid Award
Resident COA= $45,290
Direct Loan= $42,722
PLUS Loan= $ 2,568
Less Loan Fees= $42,264
$ 2,458
Actual Funds (yr) $44,722
Per Semester $22,361
Less Tuition $10,043
Refund $12,318 per term
Preferred Financial Aid Websites
MUJCESOM Financial Aid: http://jcesom.marshall.edu/students/financial
assistance/
Facebook: www.facebook.com/ marshallsfa
AAMC FIRST (Financial Aid Info): www.aamc.org/FIRST
USDOE Federal Aid: www.studentloans.gov
Academic Scholarships
For information about MUJCESOM
Scholarship Program for new and continuing students, visit http://jcesom.marshall.edu/students/ financial assistance/ and click on MUSOM Scholarship
Program on the sidebar.
 Incoming new students are automatically considered for scholarship assistance based upon the credentials submitted during the admission process.
 Recipients will be notified by the
Admissions office.
 Awarded scholarship funds will be included in the financial award notification.
 All federal aid recipients are required to report receipt of any outside scholarship or educational related assistance as it is considered a part of your financial aid award.
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